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Liberian Government secures US$2.35b for development

By James Akoi
Transportation of unrefined ion-ore product on the rehabilitated  Nimba-Bassa Rail Track.
Transportation of unrefined ion-ore product on the rehabilitated Nimba-Bassa Rail Track.

(mylbsonline.com/Liberia/ Nov. 20/2013) The Liberian Government says it has secured US$1.2b to prioritize infrastructure development.

The government also says it is seeking additional US$1.15b from partners to tackle ongoing projects in the country.

The Mount Coffey Hydro Plant’s rehabilitation, roads and ports, as well as market improvement in the Agriculture Sector have been named as areas of priority.

Finance Minister, Amara Konneh, made the disclosure Tuesday, November 19, 2013 in Monrovia.

Minister Konneh said: “Liberia cannot be developed in the absence of low cost energy. Cheaper energy will be extended to households and businesses across the country.”

The Liberian Finance Minister further disclosed that development partners, including the Japanese Government and the World Bank will build three power plants in two years.

“The three power plants will produce 38-Mega Watts and 18 Mega Watts will be financed by the Liberian Government,” he said.

Meanwhile, Minister Konneh says Liberia’s post-war economic growth is being sustained through increase in economic productivity, mainly iron ore export, construction and strong performance in the service sector.

He, however, named job creation, especially among the youth, as the main challenge.

“Gainful employment for young people is vital to peace, security and Liberia’s economic transformation,” the Finance Minister added.

Minister Konneh also noted: “Efforts are being made to tackle the job creation issue and make the country a middle income nation by 2030.”

 


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